Singer Equities acquires Future Hydraulik
Singer Equities announced the acquisition of Future Hydraulik Inc., headquartered in Laval, Quebec, Canada.
Founded in 2005 by Richard Payette, Yves Renaud, Carol Deschênes and Yvan Audy, Future Hydraulik is a distributor, fabricator and wholesaler of hydraulic hose, fittings, assemblies and fabrication equipment in Eastern Canada. Payette will remain as vice president/general manager, along with Renaud, Deschênes and the 36 employees that will continue under the Future Hydraulik name.
Future Hydraulik serves distribution and OE customers in a diversified market base including industrial and automotive distribution, forestry, drilling, marine, construction, mining and agricultural.
“Richard and his team have built a profitable hydraulic hose and fittings business over the past 11 years and have earned a great reputation through their strong hydraulics product offering and dedication to customer service,” said Sam Petillo, president of Singer Equities. “We are very excited and proud to have Future Hydraulik join the Singer Equities team and expand our geographic footprint into Canada. The addition of Future Hydraulik strengthens Singer’s hose and fitting product portfolio and further diversifies our customer and channel base.”
Payette said, “Through a partnership with Singer Equities we maintain our name, identity and the business model that enabled our growth over the past 11 years. Singer’s hands-off management philosophy offers a seamless ownership transition without disrupting the service we provide to our customers or the work environment of our employees. We will leverage their strength in the hose industry to expedite our growth in Canada.”
Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, Texas, and through its 53 locations provides industrial rubber and wire rope and rigging products and services to a broad range of industrial end markets throughout the United States and now Canada.